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The MPV segment once witnessed a boom in both the number of models available and sales figures in Vietnam. Mitsubishi Xpander was the top-selling model in this segment and even became the best-selling car in the entire Vietnamese market in 2023.
More than a year on, with numerous market fluctuations, the Mitsubishi Xpander remains the “sales king” in both the MPV segment and the broader internal combustion engine vehicle market in Vietnam.
Xpander Remains the Top-Seller
With 1,724 units sold in June, the cumulative sales of the Mitsubishi Xpander in Vietnam reached 8,187 units in the first half of the year.
This sales performance cements the Mitsubishi Xpander as the best-selling small MPV. Even when compared to larger MPVs such as the Toyota Innova Cross (3,445 units sold), Kia Carnival (2,571 units), and Hyundai Custin (725 units), the Mitsubishi Xpander still boasts superior sales figures.
Returning to the small MPV segment, the Mitsubishi Xpander has created a sales gap of over 3,000 units compared to its closest competitor. Specifically, the Toyota Veloz Cross sold 3,149 units in Vietnam during the same period, averaging almost 525 units per month.
| Mitsubishi Xpander Remains the “Sales King” | ||||||||
| Sales figures for small MPVs in Vietnam in the first half of the year (Data: VAMA, TC Motor) | ||||||||
| Brand | Mitsubishi Xpander | Toyota Veloz Cross | Honda BR-V | Kia Carens | Hyundai Stargazer | Suzuki XL7 Hybrid | Toyota Avanza Premio | |
| Units Sold | 8,187 | 3,149 | 1,994 | 1,794 | 1,742 | 1,193 | 568 |
The rest of the affordable MPV segment did not have any models that sold over 2,000 units in the first half. The Honda BR-V sold 1,994 units during the same period, while the sales figures for the Kia Carens and Hyundai Stargazer, both South Korean MPVs, were 1,794 and 1,742 units respectively.
The Suzuki XL7 Hybrid, the only gas-electric hybrid in the segment, sold 1,193 units in the first six months.
At the bottom of the sales chart for small MPVs is the Toyota Avanza Premio. This model, a sibling to the Toyota Veloz Cross, recorded cumulative sales of 568 units, equivalent to less than 100 units per month.
Pressure from New Competitors
The small MPV segment in Vietnam has not seen any new entrants in the past year or so. However, in the medium-sized MPV group, Vietnamese customers have recently welcomed the GAC M6 Pro, BYD M6, VinFast Limo Green, and MG G50.
Among these, the BYD M6 and VinFast Limo Green are rare all-electric options in the MPV segment in Vietnam. Compared to the Hyundai Custin (starting at 820 million VND) and Toyota Innova Cross (starting at 810 million VND), the price of the BYD M6 and VinFast Limo Green, both under 760 million VND, is more accessible.
However, when compared to the Mitsubishi Xpander, these electric MPVs like the BYD M6 and VinFast Limo Green are at a slight disadvantage in terms of initial cost.
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Several new models have emerged in the MPV segment. Photos: Đan Thanh, Phúc Hậu, VinFast. |
On the other hand, the MG G50 offers a manual transmission version at a price of 559 million VND. This price is slightly lower than the Mitsubishi Xpander MT (560 million VND) and the Toyota Veloz Cross CVT (638 million VND), which are currently the best-selling small MPVs in Vietnam.
However, the lower price comes with trade-offs. The manual transmission and sparse features of the MG G50 MT Com make it less appealing to families. This Chinese newcomer’s advantage lies in its larger space, inherent to its design as a medium-sized MPV, which surpasses that of small MPVs like the Mitsubishi Xpander and Toyota Veloz Cross.
Turning back to the all-electric MPVs, while the initial cost is higher, owning a BYD M6 or Limo Green is considered more advantageous in terms of usage costs, a significant factor influencing purchasing decisions for both family and commercial transportation service customers.
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The VinFast Limo Green is a rare all-electric MPV in Vietnam. Photo: VinFast. |
Specifically, for the VinFast Limo Green, VinFast’s electric vehicles, including this MPV, are offering free charging until the end of June 2027. This means that customers who purchase the Limo Green will incur almost no usage costs.
While these new models offer certain advantages, overall, they are not likely to dethrone the Mitsubishi Xpander anytime soon. Within the small MPV segment, the Mitsubishi model is creating a comfortable sales gap with its closest competitor and is almost certain to remain the best-selling model.
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